Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) Sees Significant Increase in Short Interest

Principal Spectrum Preferred Securities Active ETF (NYSEARCA:PREF) saw a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 60,865 shares, a growth of 93.4% from the May 14th total of 31,476 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 287,712 shares, the days-to-cover ratio is currently 0.2 days.

Principal Spectrum Preferred Securities Active ETF Price Performance

Shares of Principal Spectrum Preferred Securities Active ETF stock remained flat at $19.02 during mid-day trading on Tuesday. 243,551 shares of the stock traded hands, compared to its average volume of 260,302. The firm’s 50-day simple moving average is $18.99 and its 200-day simple moving average is $19.04. Principal Spectrum Preferred Securities Active ETF has a twelve month low of $18.64 and a twelve month high of $19.32.

Institutional Investors Weigh In On Principal Spectrum Preferred Securities Active ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC acquired a new position in shares of Principal Spectrum Preferred Securities Active ETF in the 4th quarter valued at $29,000. Evelyn Partners Asset Management Ltd acquired a new stake in shares of Principal Spectrum Preferred Securities Active ETF during the 4th quarter worth about $29,000. Flagship Harbor Advisors LLC purchased a new stake in Principal Spectrum Preferred Securities Active ETF in the 4th quarter valued at about $36,000. Steward Partners Investment Advisory LLC raised its holdings in Principal Spectrum Preferred Securities Active ETF by 126.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,035 shares of the company’s stock valued at $58,000 after buying an additional 1,695 shares during the period. Finally, Roxbury Financial LLC acquired a new position in Principal Spectrum Preferred Securities Active ETF in the fourth quarter valued at about $77,000.

About Principal Spectrum Preferred Securities Active ETF

The Principal Spectrum Preferred Securities Active ETF (PREF) is an exchange-traded fund that mostly invests in broad credit fixed income. The fund is an actively managed fund with a primary focus on $1,000 par preferred securities. PREF was launched on Jul 10, 2017 and is managed by Principal.